Yelp (YELP) Higher on Twitter Chatter and Movement to Single Class of Stock

September 23, 2016 9:49 AM EDT

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Yelp (NYSE: YELP) is bid solidly higher Friday likely on the reports Twitter (NYSE: TWTR) is moving closer to a sale. YELP is up 6.3%, while TWTR is up 19.3%.

Also helping is news the company announced that all outstanding shares of its Class A and Class B common stock automatically converted into a single class of common stock on a one-for-one basis, effective at 5:00 p.m. Eastern time on September 22, 2016.

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